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Banks without a high-street presence aren't anything new—see the likes of First Direct and Smile—but a brand-new, privately owned, and entirely independent bank that can only be accessed via a mobile app? Now there's something you don't see every day. Durham-based digital bank Atom has been gearing up to launch its "branch-free, paper-free" service on mobiles for some time now, and today it got a big step closer thanks to being granted a banking licence by the Bank of England.

The licence makes Atom a fully regulated UK banking service, which will allow the company to launch later this year. Atom will be accessed exclusively via smartphone and tablet apps at launch, with a browser-based desktop service to follow. While the bank will remain entirely independent—unlike First Direct, which is backed by banking behemoth HSBC—it will be working with a high-street bank partner to allow for cheque and cash deposits, as well as offering 24-hour support via phone, e-mail, webchat, and social networks.

As well as being able to open accounts and manage your money from an app, Atom is also planning to offer biometric security, "gaming technology," and most intriguingly, a "3D interactive experience."

There are very few details on what these "gaming technology" or "3D interactive experience" features will actually entail, but an interview with CEO Mark Mullen—former head of First Direct's telephone banking—notes that the company's inspiration "is not coming from banks. You don't go to the banking sector for technological excellence ... we're working with tech companies with credits in the motor industry, gaming. What's important is creating a high quality experience."

While Atom's move to offer a more accessible banking experience to customers is an admirable one, it still relies on existing banking infrastructure to function, with its mobile app simply layering on a new front end.

Fellow banking startup Mondo recently revealed that in addition to applying for a full banking license in order to generate revenue through lending, it would also be writing its own "full stack" banking software from scratch. By starting from scratch, Mondo hopes to enable features that aren't feasible with legacy banking software.

The US has been ahead of the curve when it comes to digital-only banking, with both Moven and Simple offering up apps that allow you to bank on the go without the overheads of a high-street branch.